Get expert opinion. This is the place for new questions to be posted.
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kesw
- Posts: 15
- Joined: Wed Jul 16, 2008 2:25 pm
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Hi. Does anyone know if it is at all possible to obtain a mortgage whilst an iva is on your credit file? Do adverse credit companies provide these mortgages at all? We are proposing a full and final and because of our circumstances we are hoping that it will be accepted. We are now thinking of our options for the future and definitely want to look in to moving to a bigger house. Would it be best to wait until the iva has cleared from our records before we look to move. Will we ever be able to get another mortgage?
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plasticdaft
Forum Expert
- Posts: 9562
- Joined: Wed May 21, 2008 12:45 pm
- Location: United Kingdom
You will need to wait for it to drop off the files and even then some mortgage companies will ask if you have ever been in any formal insolvency or agreement with creditors,so dont expect it to be easy but with a decent deposit and by using a whole of market broker you may find the right deal!!
The deals of 2 and 3 years ago of sub prime lenders just arent there anymore.
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
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Adam Davies
- Posts: 14596
- Joined: Thu Mar 29, 2007 12:21 pm
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Hi
The longer your IVA has been completed the better your mortgage opportunity.
Metro finance of Shefield are a very good whole of market mortgage broker and I can speak from personal experience.
Regards
Andam Davies
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luluj
Forum Expert
- Posts: 11333
- Joined: Sun Dec 09, 2007 6:54 am
- Location: United Kingdom
AS Andy says the longer you wait the better the offer you will get.....whole of market broker will be the best option as they will be able to access everything on offer ...... I have details of one broker that I use and recently gained a mortgage with (had a 50% deposit though)- happy to share his details on here or with individuals if you wish....
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Look at my blog "All I wanted was a baby"
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kesw
- Posts: 15
- Joined: Wed Jul 16, 2008 2:25 pm
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Thank you for your replies. I think we will have to stay where we are until the iva has been removed from our records, we have 3 years remaining. Things will be difficult as I have a 2 bedroom house that I share with my husband, daughter and my new baby son. We just hope that once completed we then be able to move our mortgage and buy a new bigger home.
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kesw
- Posts: 15
- Joined: Wed Jul 16, 2008 2:25 pm
- Location:
Hi. Luluj, could you please send me the details of your mortgage broker. Thanks
